The Mortgage Relief for Disaster Survivors Act allows homeowners and multifamily property owners with federally-backed mortgages located in declared disaster areas to pause their loan payments for up to 180 days without penalty. Borrowers can request forbearance simply by contacting their loan servicer and confirming they are experiencing financial hardship, regardless of whether they are currently behind on payments. During the forbearance period, no additional fees, penalties, or interest beyond the normal loan terms may accumulate on the account. The bill also permits borrowers to extend forbearance for an additional 180 days if needed and allows them to end the forbearance early if their situation improves. The legislation applies to disasters declared after January 1, 2025, and covers mortgages backed by federal agencies including FHA, VA, USDA, and government-sponsored enterprises like Fannie Mae and Freddie Mac.
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